Hagman wins $11m damages from Citi

Larry Hagman has been awarded $10m in damages after claiming to have been a victim of fraud at the hands of Citigroup, one of the world's biggest banks.

Hagman, who played greedy oil tycoon JR Ewing in the Eighties TV show Dallas, has accused the bank of misconduct linked to securities in his portfolio and the sale of a life insurance policy. He filed for $1.35m in damages.

The Financial Industry Regulatory Authority (FINRA), which regulates stockbrokers in the US, ruled that Citi must pay $10m to charities selected by Hagman, together with $1.1m in compensation and nearly $440,000 in legal fees.

According to the ruling, Hagman accused Citi in May 2009 of a breach of fiduciary duty and breach of contract, fraud by misrepresentation and omission, failure to supervise and violation of federal and state law.

The allegations stemmed from unspecified securities held in Citi accounts, as well as the purchase of a life insurance policy.

Hagman received the unusually large award after FINRA found Citigroup Global Markets 'engaged in serious conduct'.

Citigroup denied the allegations, according to the panel's ruling. Citi officials were not immediately available for comment. Industry arbitration panels are not required to explain rulings.

Hagman, born in Fort Worth, Texas, rose to global fame with the success of the soap opera. In 1980, over 350 million fans in 57 countries watched to find out who shot JR.

Last week it emerged that plans are afoot to bring Dallas back to the television screen - with Hagman, now 79, playing his original role.

Former 24 star Kiefer Sutherland is being touted to appear in the new version which will once again revolve around the family scandals and betrayals at Southfork Ranch.

This time, however, it will focus on JR's son, John Ross and Bobby and Pam Ewing's adopted son, Christopher.

It is almost 20 years since Dallas last aired in Britain, but producers have reportedly approached Patrick Duffy, 61, and 70-year-old Linda Gray to revive their roles as JR's brother, Bobby, and his long-suffering wife, Sue Ellen.

British celebrities caught in the financial crunch

While Larry Hagman's particular problem is unclear, there has been much written about celebrities who were caught out by the financial crisis of recent years.

Skinner, 53, says he was persuaded by his 'personal bankers' to invest all of his life savings in the insurance giant AIG in 2007.

He said: 'I was a victim of the credit crunch. I had been persuaded by my personal bankers that AIG was a very, very safe place to put my life savings. And AIG, as you may remember, had a bit of a hard time so there was a period when I thought I had lost it all.' [Read the story in his own words]

Jeremy Clarkson was also a victim. Two years ago, in a newspaper column, he said: 'I made strenuous efforts to get my money out of AIG as soon as the scale of its problems became apparent. But it wasn't possible.

Angry: Jeremy Clarkson

'Inwardly I was screaming. It's my money. I gave it to you. You've squandered it on a Mexican's house in San Diego and a stupid football team and that's your problem. Not mine.'

Sir Keith Mills, the millionaire founder of Air Miles and Nectar cards, has led a public campaign against Coutts Bank over what he claims are heavy losses he suffered after investing £65m in AIG.